Price Analysis

Cardano Smart Contracts Launch Date To Be Out On 13 August, Will It Fuel ADA price?

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Aug 11, 2021

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Highlights

    Cardano price after a prolonged consolidation finally broke out from the box to head towards $2

    The asset jumped nearly 21% to mark its re-establishment of the bull run that may smash much higher levels beyond ATH

    The latest update on the smart contracts launch date has let the community on fire as the much-awaited upgrade could happen very soon

Cardano price surged like a giant in the early trading hours by gaining a nearly 22% jump. Also, the trading volume spiked nearly 160% and still counting to mark the resumption of the bull rally. In the most recent update, the founder of IOHK, Charles Hoskinson released a video with a brief update on the Alonzo Hard Fork or Cardano Smart Contracts release date. 

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The founder in the video said that the date of the launch will be let out on 13 August 2021, coming Friday. This could be one of the reasons for the ADA price to break the resistance and propel high. He also said the platform which is being built would work along with the developers to get a relatively clear picture of the value of risk and the consequence of the failure of an application. 

Also Read: XRP Price Approaching A Dollar, Could Clinch $2.5 Mark In 9 Days!

Currently, the ADA price appears to be poised to surge towards its ATH. As the consecutive huge candles indicate a massive surge awaiting ahead. The price already broke the ascending parallel channel on the previous trading day. And the bullish momentum kept the uptrend in place. 

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The Cardano price had experienced a fakeout previously, yet the current breakout appears to be a significant one. The pivotal levels reside around $1.87 and just another push could assist the price to reach those levels. However, the bulls currently are trying hard to uplift the ADA price to surpass the $2 mark at the earliest. The much-awaited smart contracts on the Cardano could result in a remarkable rally to clinch the target set at $5. 

Also Read Bitcoin Golden Cross Around the Corner! BTC Price Poised to Hit $50k This Week!

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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